ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
Stock Market Commentary In Q2, the S&P 500 (SPY) enjoyed a 2-month rebound from an April sell-off. The index ended Q2 with a 3.9% gain. The stock market as a whole ended Q2 with a notable divergence in which market breadth, long maligned for the quarter, suddenly improved despite bearish topping patterns appearing on both … Read more
Housing Market Intro and Summary What happened in the housing market in June, 2024? The broadening weakness I described in my previous Housing Market Review continued and confirmed a spring selling season bust. The data in June delivered a picture of a sales slowdown accompanied by increasing affordability squeezes despite inventory increases. Housing Stocks The … Read more
Stock Market Commentary The S&P 500 (SPY) is up 3.0% since summer trading began the day after the Memorial Day weekend. If not for the poor market breadth, the rally would look like a repeat of last year’s summer of loving stocks (sorry sell in May and go away folks). Semiconductor stocks, particularly NVIDIA Corporation … Read more
Stock Market Commentary The stock market’s bearish divergence is too strong to ignore. The S&P 500 and the NASDAQ achieved all-time highs while market breadth sunk again this week. Both short-term and long-term market breadth indicators are at key support levels. Even if market breadth somehow rebounds from current levels, I find myself getting yet … Read more
Stock Market Commentary The week’s trading was punctuated by a single day with an all-time high on the S&P 500 and the NASDAQ in the wake of strong readings on the May S&P Global US Services PMI and the May ISM Non-Manufacturing Index. Unfortunately, that price milestone failed to change the contour of market breath … Read more